The emperor is naked. Lessons in life:
1. Unwritten promises, quite often, would not be fulfilled.
2. Unwritten promises, if linked to a rapidly increasing index so as to lead to an abnormally huge windfall gain, will certainly not be honoured.
3. Rules and excuses, no matter how trival and irrelevant, are always used to disguise greed and justify the non-fulfillment of promises.
4. Any reliance on unwritten promises is silly, for disappointment would be greater if one tries very hard and yet the promises are denied using some pretext, no matter how trival.
Despite one's longstanding awareness in the possibility of unfulfillment, one tends to take what one may believe to be a calculated risk and hence suffer to some extent from the bursting of the myth. However, early realisation may mean a lesser opportunity cost and hence limit any damage.
One final lesson to be learned: When something is too good to be true, it probably isn't true.